Too big. Too much cash. Pain in the short run? Yes. Bankrupt? No. Just keep working hard, if you make it through layoffs you should be ok.
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I'll still wait till end Q1/2017 (If I'm not let go ) Hopefully
The thing though is that even COP survives, it has become a completely horrible place to work. Sure, the salary is great but to work here right now feels worse than selling your soul to Satan. The culture is permanently broken. Over three years we have gone from an awesome place to work to a place that is part Soviet work camp/part prison.
@mbh....If COP is acquired, most employees will be laid off. The acquiring company will not need or want duplicate employees and will prefer to retain their own. Unless you are a well documented card carrying high potential or you have compromising pictures of Ryan with multiple farm animals, you will be s--- outta luck.
Drama queen doom and gloom
what's the problem with being bought out? How would that typically affect the acquired employees?
No, it isn't. Have you not looked at our rank relative to our peers? Scary bad. We're just selling off piece by piece to stay afloat and soon enough we'll be small enough to be swallowed whole. Problem is that 90% of whatever employees remain at that point will be spit out and left for dead. If you have the means to get out, go now. We haven't seen the worst yet.
This is the situation for every oil company
Cash, what cash? The company has survived only via asset sales and tapping into credit facilities since the p66 / cop split.
The company is bankrupt if prices do not improve ... you are betting on an oil price recovery
Bankruptcy is not the risk at all. The company has too many assets and generates too much cash. The real risk is that COP will have its debt ratings downgraded and as a consequence the stock plummets and it is taken over. This is the much higher probable scenario. The company is in a very bad strategic position. The only way it can recover is if oil prices rebound to $60/Bbl over the next 1-2 years. This might happen, but it might not. Basically, the future of COP depends on geopolitics and the state of the world economy - factors way beyond the control of COP.